Victory Capital Management Inc. Acquires 456,868 Shares of Banner Co. (NASDAQ:BANR)

Victory Capital Management Inc. grew its holdings in shares of Banner Co. (NASDAQ:BANR) by 247.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 641,701 shares of the financial services provider’s stock after acquiring an additional 456,868 shares during the period. Victory Capital Management Inc. owned about 1.87% of Banner worth $34,370,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Numerai GP LLC raised its stake in shares of Banner by 131.1% during the third quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock valued at $4,188,000 after acquiring an additional 56,067 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Banner during the third quarter worth $836,000. Vanguard Group Inc. increased its position in shares of Banner by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock worth $175,743,000 after buying an additional 36,850 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of Banner during the fourth quarter worth $215,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Banner during the fourth quarter worth $921,000. Institutional investors own 87.33% of the company’s stock.

Banner Stock Up 0.2 %

Banner stock opened at $46.31 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $45.52 and its two-hundred day moving average price is $46.66. Banner Co. has a 1-year low of $39.31 and a 1-year high of $55.66. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.63 and a beta of 1.04.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s payout ratio is currently 39.92%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stephens decreased their price objective on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Keefe, Bruyette & Woods reduced their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Raymond James raised their price target on shares of Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Piper Sandler reduced their price target on shares of Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, DA Davidson reduced their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.